Let's be honest here. As much as we have all read and talked to professors and contacted POIs, none of us really know how it works. I have been admitted to a few programs and I still really don't know "how" it all works.
There isn't any reason not to present at conferences. If you have a M.A. you no doubt have papers sitting around just waiting to be turned into presentations. Also, what about teaching as an adjunct? Teaching experience I would think would definitely help your app. I am an adjunct instructor and I put every different class that I teach on my CV.
I just completed an MA and had two kids during the process. I did it in 2 years as well. You do have to be thrifty with your time and money. I ended up writing a lot late at night after the kids fall asleep. In my expereince, I would reccommend against on campus daycare. We used a nearby church daycare as it was WAY cheaper than anything offered on campus and the adult/child ratio was actually better.